Genetic Technologies divesting the Australian Genetics Business

So it turns out that my company Genetic Technologies announced on the 22nd September 2014, that the Company had entered into a binding Agreement with Specialist Diagnostics Services Pty Ltd, a subsidiary of Primary Health Care Limited, for the sale of the assets of the heritage Australian genetics testing business. The Australian Genetics business has been fundamental to the Company’s development as a specialised genetic testing service provider, and more recently, a foundation to enter the molecular diagnostics market via BREVAGen. However, when the opportunity to divest the Australian Genetics business arose, the Board elected to do so, focusing the Company on its core asset BREVAGen, and the imminent release of the next generation of the test, BREVAGenplus.

This is obviously as a result of there poor performance in Australia as shown on the financial reports, so I did some more digging into their new endeavour BREVAGen in the USA and found it quite interesting.

Hope you learnt a little too!

Signing out!